What's happened
UK regulators have approved Microsoft's $69 billion takeover of Activision Blizzard, removing the last hurdle to the gaming industry's biggest merger.
Why it matters
The approval marks a significant victory for Microsoft and is expected to have a major impact on the gaming industry, potentially reshaping the competitive landscape and services for gamers worldwide.
What the papers say
The Times reports that the UK Competition and Markets Authority (CMA) approved a revised version of the deal, while The Independent and New York Times also highlight the significance of the approval and the impact on the gaming industry. However, The Independent and BBC News criticize Microsoft's tactics and the combative relationship with the regulator, while The Telegraph emphasizes the reversal of the CMA's earlier decision to block the deal.
How we got here
The deal faced tough scrutiny from regulators in the US and Europe over the past two years, with the UK's CMA initially opposing the acquisition in April. Microsoft's restructuring of the deal and agreement to license a part of Activision's business addressed the concerns raised by the CMA, leading to the final approval.
More on these topics
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Activision Blizzard, Inc. is an American video game holding company based in Santa Monica, California. The company was founded in July 2008 through the merger of Activision, Inc. and Vivendi Games.
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The Competition and Markets Authority is a non-ministerial government department in the United Kingdom, responsible for strengthening business competition and preventing and reducing anti-competitive activities.
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The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom or Britain, is a sovereign country located off the northÂwestern coast of the European mainland.
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Robert A. Kotick is an American businessman who currently serves as the chief executive officer of Activision Blizzard. He was the head of several technology companies early in his career.
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Phil Spencer is an American business executive, who is the current executive vice-president of Gaming at Microsoft. He is currently the head of the Xbox brand and leads the global creative and engineering teams responsible for gaming at Microsoft.
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Bradford Lee Smith is an American attorney and technology executive currently serving as President of Microsoft, concurrently serving as chief legal officer.